Bitcoin's Support Level: Will it Hold at $50K?
A few days ago, I stated that Bitcoin is heading towards downside to reach the level support level of $60K.
I also told that a healthy dump is expected before the halving, and that will take price down even to $45K, Which is bitter truth but reality.
Now at the time of writing, the current price of Bitcoin is $54K, which is again, down around 12%
It is to keep in mind that the strongest support of Bitcoin is level of $50K, which it takes couple of rejection from this level and if this time it does not take a good support, the price will start bleeding very hardly.
This is because people will start selling their coin and become Panic in this way. The market will fall quickly.
But what you have to do in this scenario, you don't get panic and keep on buying altcoins which you will get every coin available again at discounted price.
Bitcoin will only get a good support and it will go to reach its all time high. And even Surpass $100K.
Therefore, I consider this time to not buy any of the coin and wait for another 20 to 30 percent dip in the market to buy your favorite coins. This is not a financial advice, But for the purpose of knowledge only.
THANK YOU!
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